Market Overview

The Manitowoc Company Announces $30 Million Share Repurchase Program

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The Manitowoc Company, Inc. (NYSE:MTW), (the "Company" or "Manitowoc")
a leading global manufacturer of cranes and lifting solutions, today
reported that its Board of Directors authorized a share repurchase
program of up to $30 million of the Company's common stock with no
stated expiration. Under the program, shares may be repurchased in the
open market at times and amounts determined by the Company based on its
evaluation of market conditions, continued compliance with its debt
covenants, and other factors. Manitowoc is not obligated to make any
repurchases and may discontinue the program at any time.

"Our new capital structure provides us with financial flexibility which
allows us to return capital to shareholders while also enabling us to
make strategic investments to pursue growth," commented Barry L.
Pennypacker, President and Chief Executive Officer of The Manitowoc
Company, Inc. "The decision by Manitowoc's Board of Directors to
implement a share repurchase program demonstrates confidence in our
business strategy and enables us to deliver additional value to
shareholders."

Forward-looking Statements

This press release includes "forward-looking statements" intended to
qualify for the safe harbor from liability under the Private Securities
Litigation Reform Act of 1995. Any statements contained in this press
release that are not historical facts are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current expectations of the
management of the Company and are subject to uncertainty and changes in
circumstances. Forward-looking statements include, without limitation,
statements typically containing words such as "intends," "expects,"
"anticipates," "targets," "estimates," and words of similar import. By
their nature, forward-looking statements are not guarantees of future
performance or results and involve risks and uncertainties because they
relate to events and depend on circumstances that will occur in the
future. There are a number of factors that could cause actual results
and developments to differ materially from those expressed or implied by
such forward-looking statements. Factors that could cause actual results
and developments to differ materially include, among others:

changes in economic or industry conditions generally or in the
markets served by Manitowoc;

unanticipated changes in customer demand, including changes
in global demand for high-capacity lifting equipment, changes in demand
for lifting equipment in emerging economies, and changes in demand for
used lifting equipment;

unanticipated changes in revenues, margins, costs, and
capital expenditures;

the ability to increase operational efficiencies across
Manitowoc's businesses and to capitalize on those efficiencies;

the ability to significantly improve profitability;

the risks associated with economic growth or contraction;

changes in raw material and commodity prices;

impairment of goodwill and/or intangible assets;

foreign currency fluctuation and its impact on reported
results and hedges in place with Manitowoc;

the ability to focus on customers, new technologies, and
innovation; and

risks and factors detailed in Manitowoc's 2018 Annual Report on
Form 10-K and its other filings with the United States Securities and
Exchange Commission.

Manitowoc undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements only speak as of
the date on which they are made. Information on the potential factors
that could affect the Company's actual results of operations is included
in its filings with the Securities and Exchange Commission, including
but not limited to its Annual Report on Form 10-K for the fiscal year
ended December 31, 2018.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. was founded in 1902 and has over a 116-year
tradition of providing high-quality, customer-focused products and
support services to its markets and for the year ended December 31, 2018
had net sales of approximately $1.8 billion. Manitowoc is one of the
world's leading providers of engineered lifting solutions. Manitowoc
designs, manufactures, markets, and supports one of the most
comprehensive product lines of mobile telescopic cranes, tower cranes,
lattice-boom crawler cranes, and boom trucks.

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